Wed.May 12, 2021

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Pa. AG Recalls $18M From Collection Agencies, Will Refrain From Placing Student Fee Accounts With For-Profit Agencies Moving Forward

Account Recovery

The Attorney General of Pennsylvania has recalled more than $18 million in student fees that are owed to the state from private collection agencies that were working the accounts and announced that the Commonwealth will no longer send unpaid student fees to for-profit agencies and attempts by a university to send such fees to such … The post Pa.

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Micro-Investing: A Great First Step, But Don’t Stop There

Nerd Wallet

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. It’s easy to think of micro-investing — the act of investing tiny amounts at a time, equivalent to putting spare change in the stock. Chris Davis writes for NerdWallet.

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How a Rural Hospital Used Digital Engagement to Boost Collections by 40%

Account Recovery

A hospital in Alabama should serve as an example to every type of collection operation, be it a third-party agency, creditor, or otherwise, that transitioning away from letters and phone calls and promoting digital engagement with patients and debtors is the best way to thrive in today’s economy. Jackson Hospital is a $1.2 billion facility … The post How a Rural Hospital Used Digital Engagement to Boost Collections by 40% appeared first on AccountsRecovery.net.

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Rats! Handling Pests and Other Car Woes as We Resume Driving

Nerd Wallet

While you left your car parked for long stretches during the coronavirus lockdown, it might have had some unwelcome visitors: rats, mice, squirrels or even possums. These critters like building nests in cozy, dark, dry places and enjoy munching on the insulation of your engine’s wiring system, resulting in expensive repairs. But furry trespassers are.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

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Spire Recovery Solutions Continues Support of Naked Warrior Project

Account Recovery

Spire Recovery Solutions is continuing its support of fallen Special Operations Veterans and their families with a recent contribution to Naked Warrior Project, a nonprofit organization that helps to preserve the memory of the fallen while providing support for their families. Naked Warrior Project was founded by retired Navy SEAL John Owens in honor of … The post Spire Recovery Solutions Continues Support of Naked Warrior Project appeared first on AccountsRecovery.net.

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Daily Digest – May 12. Senate Passes Bill Repealing ‘True Lender’ Rule; Pa. Ag Recalls $18M in Accounts From Agencies

Account Recovery

SENATE PASSES BILL REPEALING OCC’S ‘TRUE LENDER’ RULE AIMED AT BOOSTING LOAN SALES A repeal of a rule that aimed to close a gap in the process of banks selling loans to third parties is a step closer toward its objective and the White House yesterday indicated that should the repeal make it to the … The post Daily Digest – May 12.

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How to Save for Big Purchases in 2021

Credit Corp

Do you have some big savings goals this year? Or maybe there are a few things you’d like to buy, but need to save up for first. Saving money isn’t impossible—but you do need to be smart. Wondering how to save for big purchases? Honestly, it depends on a lot. You have your own unique and personal needs, budget and financial situation. So what works for you might not work for someone else.

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Starting a Business in Florida: The Ultimate Step-by-Step Guide

Nerd Wallet

If you’re reading this, chances are you’re in Florida. The Sunshine State is the nation’s third-biggest by population and boasts hundreds of miles of beach, glitzy and glamorous cities, unique natural beauty, as well as no state income tax and relatively low property taxes. With over 19 million residents, there are plenty of entrepreneurially minded.

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Be Proactive! Why Community Associations Should Pay Attention to Their Stormwater Management Systems

Jimerson Firm

Stormwater management systems if managed correctly can greatly enhance the value and safety of a community. As community associations managers and governing boards are well aware, however, stormwater management systems can be expensive, and their operation and maintenance highly contentious. This blog provides an overview of what a stormwater management system is, the challenges associations face with respect to these systems, and the proactive measures association leaders should take to minim

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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What You Need to Know About Medical Bankruptcy

Sawin & Shea

As medical costs continue to soar in the U.S., up to 62% of bankruptcies now include significant medical debt. A health event like an accident, disease, or surgery can bury someone in a mountain of medical bills. Many people are turning to medical bankruptcy, which is a bankruptcy that wipes out all bills related to an expensive health situation. If you’re considering bankruptcy to deal with medical debt , here are some important things you should know.

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Small-Business Tax Credit: The Complete Guide

Nerd Wallet

Most small businesses are aware of the importance of tax deductions. Claiming deductions reduces your taxable income and helps you save money. However, a small-business tax credit can be even more powerful because it can directly reduce your tax bill. This guide explains how tax credits work, the best small-business tax credits and what forms. Priyanka Prakash writes for NerdWallet.

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The American Jobs Plan: Investing in Unions and Job Quality

Prosperity Now

Many structural and systemic factors , including job quality and wages, costs of housing, health care and overall living, influence

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How to Write a Business Proposal in 7 Steps—Plus Tips and Examples

Nerd Wallet

Whether you’re a B2B or a B2C company, you’re in the business of convincing customers to choose to spend their money with your business. For a B2B company that process usually involves a business proposal. In the B2B industry, once you’ve attracted new customers, which are most likely other businesses, you have to actually make. Meredith Turits writes for NerdWallet.

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ERM Program Fundamentals for Success in the Banking Industry

Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

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Regulating Paid Tax Preparers Can Help Cut Child Poverty in Half

Prosperity Now

With Tax Day almost upon us, many Americans are turning to paid tax preparers to help them file their returns.

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Vaccine Passports and Summer Travel: What We Know

Nerd Wallet

The thrill of receiving a COVID-19 vaccine is giving way to apprehension for many would-be summer travelers, as uncertainty continues to swirl concerning when, whether and where to travel internationally. One of the biggest areas of confusion surrounds so-called vaccine passports, which would grant travel and other freedoms to fully vaccinated people.

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Identity Theft in the Age of Cybersecurity

Credit Corp

Although the number of identity theft cases fell from 16.7 million in 2017 to 14.4 million in 2018, the number of people held financially liable in these cases and the amount of their losses increased, according to the Insurance Information Institute. These identity theft statistics show that identity theft is still a major concern and consumers need to be on high alert to avoid becoming the next victims.

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The Complete Guide to Franchise Tax

Nerd Wallet

This article has been reviewed by tax expert Erica Gellerman, CPA. Some business taxes such as payroll tax, sales tax and even self-employment tax are somewhat self-explanatory. But franchise tax can be a little bit more confusing — in part, due to its name — leaving many new small business owners to wonder: “What exactly is a franchise tax, and. Nina Godlewski writes for NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Is Venmo a Safe Online Payment Option?

Credit Corp

COVID-19 shook the world. Businesses all over the planet went bust in the face of lockdown and changing consumer spending habits. There were a few notable exceptions, however—Venmo, for instance, grew exponentially in 2020. You’ve probably used Venmo a lot this past year, but is Venmo safe? And if so, what are the advantages of Venmo over other online payment providers?

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Micro Business vs. Small Business: What’s the Difference?

Nerd Wallet

Definitions vary, but typically a micro business is a type of small business that employs fewer than 10 people. Size and scale are the main differences between a micro business and small business—micro businesses often function as sole proprietorships and earn less than $250,000 annually. Financing and marketing can be more of an issue for. Sally Lauckner writes for NerdWallet.

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Can I Discharge an Unemployment Overpayment in Bankruptcy?

Luftman, Heck & Associates.

Your unemployment benefits might not be enough to pay for housing, insurance, groceries, and other expenses. Now, to make matters worse, you’ve received a letter telling you the state overpaid you and wants its money back. The COVID-19 pandemic forced many people out of work for months, causing tremendous financial hardship. If you are in debt and considering bankruptcy, please keep reading to find out if you can discharge unemployment Read More.

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3 Ways Technology Can Help Minority-Owned Businesses Recover

Nerd Wallet

Vivian Duelli had wanted to open a yoga studio for 18 years. Construction on her dream, Drift Yoga and Juice Bar, started in Seattle in February 2020. It stopped three weeks later due to the pandemic. “March came and April came, and we couldn’t go back yet to construction,” Duelli says. “I was trying to. Ryan Lane writes for NerdWallet. Email: rlane@nerdwallet.com.

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The Power of Storytelling in Risk Management

Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC

Communication is a core component of a resilient organization's risk management framework. However, risk communication involves more than just reporting information and populating dashboards, and we may be limiting our skillset. Storytelling is the ability to express ideas and convey messages to others, including stakeholders. When done effectively, it can help interpret complex risk environments for leaders and inform their decision-making.

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Dealing with Deceased Borrowers Since the 2016 Mortgage Servicing Rule

Jimerson Firm

When a borrower dies, lenders are often left wondering what to do. In 2016, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule—referred to as the 2016 Mortgage Servicing Rule —that clarified, revised, and amended several provisions in the 2013 Mortgage Servicing Rules. Provisions regarding potential or confirmed “successors in interest” were added to the 2016 Mortgage Servicing Rule to deal with transfers of property secured by a mortgage, including transfers as a result of th

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What Is a Registered Agent, and Does Your Business Need One?

Nerd Wallet

A registered agent is an individual or company that receives service of process, legal documents and official notices on your business’s behalf. When registering a business entity, you’ll be required to appoint a registered agent who has a physical address in the state of registration. Not just anyone can fill this role, though. There are. Priyanka Prakash writes for NerdWallet.

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High-Risk Processing Account Tips

Payment Savvy

If you run a high-risk business, a high-risk processing account is a must. High-risk merchants are prone to fraud and chargebacks, making finding a reliable and established payment processor willing to board your business complex. Difficult, but not impossible. High-risk businesses often generate impressive revenue. But, as mentioned above, often at a price.

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Going Concern: What Is the Going Concern Assumption?

Nerd Wallet

The going concern principle is one of the key assumptions under generally accepted accounting principles (GAAP) — and whether or not a business is a going concern is of greater interest to the general public now than it was a decade ago. But what does it really mean for a business to be a going. Billie Anne Grigg writes for NerdWallet. Email: bagrigg+wpguestuser@nerdwallet.com.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.